Flipkart's Akshay Rajwade joins Nearbuy

The Indian arm of Groupon which rebranded itself to Nearbuy in August 2015 is on a hiring spree for a second rung of management leadership.ET Bureau | Updated: January 14, 2016, 14:58 IST

Location specific deals platform Nearbuy has appointed Akshay Rajwade, the former director of mobile products at Flipkart, as its senior vice president for products.

The Indian arm of Groupon which rebranded itself to Nearbuy in August 2015 is on a hiring spree for a second rung of management leadership.

"Apart from the core team of 6 co-founders we are building our management team. From 260 employees in Groupon in August, we have grown to 600-plus in the past few months, mostly for technology and sales teams," said Ankur Warikoo, CEO and cofounder of Nearbuy.

The new entity has a strong app-focus for location specific deal discovery.

"We are currently present in 32 cities and the average time period for utilisation of a voucher has decreased from 3.5 days in Groupon to 18 hours for Nearbuy."

App-focused online to offline (O2O) deal discovery and services has so far seen fragmented players in the fashion segments.